Smith Douglas Homes (NYSE:SDHC) Downgraded to “Sell” Rating by Wall Street Zen

Smith Douglas Homes (NYSE:SDHC) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

SDHC has been the subject of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. JPMorgan Chase & Co. dropped their target price on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Citizens Jmp began coverage on shares of Smith Douglas Homes in a research report on Tuesday, March 24th. They set a “market perform” rating for the company. Zacks Research upgraded shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Zelman & Associates began coverage on shares of Smith Douglas Homes in a research report on Monday, April 6th. They set a “neutral” rating and a $13.50 target price for the company. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $13.90.

Smith Douglas Homes Price Performance

SDHC opened at $12.06 on Friday. The firm has a market cap of $612.41 million, a P/E ratio of 12.69 and a beta of 1.31. Smith Douglas Homes has a 1-year low of $10.72 and a 1-year high of $23.50. The company has a 50 day simple moving average of $12.91 and a two-hundred day simple moving average of $16.17.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $206.44 million during the quarter, compared to analyst estimates of $200.70 million. Smith Douglas Homes had a net margin of 0.90% and a negative return on equity of 0.78%. Equities analysts anticipate that Smith Douglas Homes will post 0.47 earnings per share for the current year.

Insider Buying and Selling at Smith Douglas Homes

In other news, Director George Ervin Perdue III bought 20,300 shares of Smith Douglas Homes stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $12.27 per share, with a total value of $249,081.00. Following the completion of the purchase, the director owned 60,684 shares in the company, valued at $744,592.68. The trade was a 50.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 24,000 shares of company stock valued at $290,367 over the last quarter. Corporate insiders own 82.71% of the company’s stock.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently made changes to their positions in SDHC. Conifer Management L.L.C. raised its stake in shares of Smith Douglas Homes by 68.3% in the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock valued at $24,037,000 after acquiring an additional 581,794 shares during the period. First Eagle Investment Management LLC increased its stake in Smith Douglas Homes by 38.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after buying an additional 91,292 shares during the period. Wasatch Advisors LP increased its stake in Smith Douglas Homes by 6.2% in the 4th quarter. Wasatch Advisors LP now owns 1,249,857 shares of the company’s stock worth $20,960,000 after buying an additional 72,525 shares during the period. Marshall Wace LLP purchased a new position in Smith Douglas Homes in the 2nd quarter worth about $644,000. Finally, Dimensional Fund Advisors LP purchased a new position in Smith Douglas Homes in the 1st quarter worth about $324,000.

Smith Douglas Homes Company Profile

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp. was founded in 2008 and is headquartered in Woodstock, Georgia.